Boeing experienced a significant drop in aircraft deliveries in May, delivering only 24 commercial jets to customers, marking a 52% decrease compared to the same period last year. This decline is attributed to the company slowing down its production pace to address pending issues and improve production quality.
The company faced increased regulatory scrutiny following an incident on January 5, where a door plug exploded mid-air on a 737 MAX 9 jet. Consequently, Boeing reduced the production of its MAX single-aisle jets. Despite delivering three more MAX jets in May compared to April, the total of 19 MAX jets delivered in May was still 45% below the 35 jets delivered in May 2023.
Deliveries are a critical financial metric for aircraft manufacturers as they receive a significant portion of payments upon delivery. Thus, the decrease in Boeing’s delivery rate directly impacts its revenues.
Additionally, Boeing announced four new gross orders in May, all from Eva Air, bringing the company’s total gross orders to 142 for the year. However, after accounting for cancellations and conversions, the net total orders since the beginning of 2024 stand at 103. With further adjustments related to the quality of the backlog, the adjusted net order figure for the year is 130 aircraft.
As of May 31, Boeing’s order backlog slightly decreased from 5,646 to 5,625.
In contrast, Boeing’s European competitor Airbus also saw a decline in aircraft deliveries in May, with a 16% drop compared to the same period last year, delivering 53 aircraft. Airbus has delivered 256 aircraft since the beginning of the year.
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